NBCC India To Take Up Unitech’s Stalled Projects, Centre Tells Supreme Court
NBCC (India) is ready to act as project management consultant for Unitech’s stalled housing projects. (Photographer: Qilai Shen/Bloomberg News)

NBCC India To Take Up Unitech’s Stalled Projects, Centre Tells Supreme Court

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The centre told the Supreme Court today NBCC (India) Ltd. is willing to take up stalled residential projects of Unitech Ltd., in a move that promises relief to over 16,000 people who bought flats but never received their possession.

Representing the Centre, Attorney General KK Venugopal told a Supreme Court bench, comprising Justices DY Chandrachud and MR Shah, that the state-run firm was ready to act as project management consultant for Unitech’s stalled housing projects.

Venugopal said the Centre has proposed setting up of a high-powered committee, headed by a former high court judge, to oversee the construction of the Unitech projects. The panel can also have a retired technocrat who would assist it in its functioning.

The Supreme Court bench then asked lawyer Pawan Shree Agrawal, who is assisting the apex court as an amicus curiae, to post the proposal of the Centre on the home buyers’ portal prepared by him to enable them to mail their suggestions to him.

The amicus curiae would then collate the suggestions of the home buyers and apprise the court about them on Aug. 9 when the court would pass a formal order and may appoint a committee and ask NBCC to take up the housing projects, the bench said.

NBCC (India) said it will not do the construction work itself, but get the work done in a fair and transparent manner through other agencies or private players.

The apex court also sought names of the persons, including the former high court judge, from the parties for selecting the members of the panel.

The bench also said that it would be taking the help of an existing panel that is looking into the sale of Unitech’s real estate assets.

Supreme Court had directed the Centre to come up with a proposal for construction of Unitech’s stalled projects so that the hassled homebuyers are not left in lurch.

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